Home » Sandoz to Move Headquarters From Vienna to Munich
Sandoz to Move Headquarters From Vienna to Munich
April 20, 2005
Sandoz, the generic drugs maker belonging to Swiss pharmaceuticals giant Novartis, is to relocate its headquarters from Vienna to Munich, the business daily Handelsblatt reported, quoting sources close to the company. Sandoz will officially announce its decision to move from Vienna to Holzkirchen, south of Munich, this month, the newspaper said. Holzkirchen is the home of the generic drugs specialist Hexal, which Novartis acquired for 5.65 billion euros ($7.3 billion) in February. The combination of Sandoz and Hexal will create a new world leader in generic drugs, ahead of Israeli group Teva.
DW-World (http://www.dw-world.de/dw/briefs/0,1574,1558384,00.html)
KEYWORDS FDAnews Drug Daily Bulletin
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